German logistics giant, DHL Group, announced on Wednesday that its net profit for the fourth quarter fell by 26.5 percent to 981 million euros, sliding down from the preceding year's 1.34 billion euros.
The basic earnings per share also experienced a dip, decreasing by 25.2 percent from 1.11 euros in the previous year to 0.83 euro. Additionally, DHL's EBIT dropped by 14.6 percent, falling to 1.64 billion euros from 1.92 billion euros the previous year.
The company's revenue for the quarter likewise saw a decline of 10.2 percent, standing at 21.35 billion euros compared to last year's 23.78 billion euros.
Moreover, at the upcoming Annual General Meeting scheduled for May 3, the company's Board of Management and Supervisory Board will propose maintaining the dividend of 1.85 euros per share, mirroring last year's figure, for approval by shareholders.
Further, DHL revealed plans to extend the existing share buyback program, which currently runs until 2024, to 2025, while raising the volume by 1 billion euros to reach a total of 4 billion euros.
Examining its financial outlook for 2024, DHL Group estimates its EBIT will range between 6.0 billion euros and 6.6 billion euros, demonstrating a slight difference to the 6.3 billion euros recorded in the fiscal year 2023.
Over the medium term, DHL Group's forecast for 2026 projects an operating result between 7.5 billion euros and 8.5 billion euros.
